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RUNNING HEAD: EXTERNAL FACTORS University of Maryland – College Park External Environment ReportTheresa HollowayMGMT 670: Strategic Management Capstone (2168)1
EXTERNAL FACTORS The University of Maryland, College Park (UMCP) is a public research university located in the city of College Park in Prince George’s County, Maryland. The University’s mission “is to provide excellent teaching, research, and service. The University educates studentsand advances knowledge in areas of importance to the State, the nation, and the world” (Mission and Goals Statement, 2014). It Is the belief of University officials that its mission is what inspires its students’ ideas and ignites passions that lead to life-changing processes of discovery, innovation and entrepreneurship. As it pertains to public institutions, it is often the unspoken mission to stand out, in attempt to recruit the best students, faculty, staff, and researchers. In order to fully understand and develop UMCP’s competitive advantage, it is necessary to take a deeper look in the university’s external factors or environment. In order to conduct a review of UMCP’s external factors, a SWOT analysis was conducted to reveal its opportunities and threats.In addition, conducting a PESTEL analysis allows an organization to examine its political, economic, social, technological, legislative, and environmental factors that may hinder or escalate their strategic plan and competitive advantage. In order to maintain a competitive advantage, organizations should be aware of their competition, which can be done by conductinga Five-Forces analysis. Strategic group mapping will also be used to show how UMCP ranks with its competitors, to the cost of in-state tuition per academic, its U.S. World News rankings, and its undergraduate student enrollment. Conducting a thorough examination of is external environment allows University of Maryland, College Park to continue to evaluate how it ranks among its competitors and how strong of a competitive advantage the organization truly holds. University of Maryland, College Park has identified several opportunities to manage its strategic plan. The identified opportunities are as follows: research, scholarship, and the arts; keeping the state’s best students in Maryland; promoting community and inclusiveness; 2
EXTERNAL FACTORS partnerships and entrepreneurial initiatives; and communications and alumni involvement and support. UMCP has a rising academic stature due to the quality and girth of its academic and research programs. If one adds these factors to the advantageous location of the university and itsculture of innovation, excellent opportunities are presented for leadership in research, scholarship, and the arts. “National data show that college graduates usually remain and work in the geographical area in which they attended college”. However, many of Maryland’s most talented undergraduate and graduate students are attending out-of-state universities (UMCP Strategic Plan, 2008, p. 10).